The Consumer Financial Protection Bureau detailed in its 2023 Consumer Response Annual Report that consumers have been the targets of fraudulent account openings, and installment loans were the most cited type of personal lending in complaints. The report, released Friday (March 29), noted that complaints about credit or consumer reporting accounted for more than 81%
As warmer weather signals the beginning of spring, it may be time to tidy up your finances. Many Americans use personal loans to apply spring-cleaning principles to their finances in the form of debt consolidation. Though some choose to lean on a balance transfer credit card with a low promotional rate, others are clearing out
Portions of this article were drafted using an in-house natural language generation platform. The article was reviewed, fact-checked and edited by our editorial staff. Key takeaways Addressing wedding debt early on in a marriage is crucial for reducing stress and building a strong foundation for the relationship. Monetary wedding gifts, the debt snowball or avalanche
Ryanjlane | E+ | Getty Images People often start the year by revisiting their budgets with a resolution to save money and cut back on discretionary spending. Yet, experts say hobbies shouldn’t be the first category to go. Americans on average spent $3,458 on entertainment in 2022, according to the most recent Consumer Expenditures report
Some types of debt can haunt you. “Buy now, pay later” loans, especially, can be hard to track, making it easier for more consumers to get in over their heads, some experts say — even more than credit cards, which are simpler to account for, despite sky-high interest rates. Over the holidays, the use of installment
MUMBAI: Interest rates on some retail loans, excluding home loans, have started inching up, with several banks revising their marginal cost of lending rate (MCLR). Although banks have linked their home loans to the repo rate (the rate at which the Reserve Bank of India lends), which has stayed the same since February 2023, many
Indian fintech companies that focus on loans to individuals took off during the covid-19 pandemic and continued to boom after lockdowns eased, but their path to profitability remains a work in progress. Indian fintech companies that focus on loans to individuals took off during the covid-19 pandemic and continued to boom after lockdowns eased, but